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This is how the differentiated VAT works with electronic money and credit cards
Posted On 02 Jun 2016
The new 14% VAT rate (Value Added Tax), set by the Law on Solidarity, in force since June 1, 2016 for a maximum period of one year, and published in the Official Gazette on May 20, established a return of up to 4% of the VAT for those who use electronic money to pay for purchases.
4 VAT points when paying with cash from the cell phone (electronic money).
– 1 VAT point when paying with the credit, debit or prepayment card.
How is an electronic money account activated?
People wishing to access this system must open an account of electronic money through their mobile phones.
– Dial *153 # from your cell phone.
– The system will ask if you want to activate an electronic money account.
– The system will ask if you know and accept the conditions for the use of the e-money account.
– Enter your ID number.
– Confirm your name and last name.
– Answer the questions of validation so that the system records your data and send you your password.
How to get electronic money?
– You must go to one of the financial institutions or authorized centers by the Central Bank with your identity card and physical money to credit it into your electronic money account.
– The system will validate the identification, will process the transaction and will send a message to your phone, confirming the payment.
